Bank of America Co. (NYSE:BAC) Shares Sold by Howard Capital Management Group LLC

Howard Capital Management Group LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,746 shares of the financial services provider’s stock after selling 3,890 shares during the period. Howard Capital Management Group LLC’s holdings in Bank of America were worth $692,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Legal & General Group Plc raised its position in shares of Bank of America by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after purchasing an additional 895,884 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Bank of America by 4.0% in the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after purchasing an additional 1,731,003 shares in the last quarter. Sanders Capital LLC grew its position in Bank of America by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after purchasing an additional 601,211 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Bank of America by 0.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after purchasing an additional 59,853 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.3 %

Shares of BAC opened at $46.65 on Wednesday. The firm has a market cap of $357.92 billion, a P/E ratio of 14.49, a PEG ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 12 month low of $32.32 and a 12 month high of $48.08. The stock’s 50 day moving average is $45.80 and its two-hundred day moving average is $42.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.